The annual exclusion gift amount remains at $15,000 for 2019. The annual exclusion gift is the amount that you can give to any recipient during the calendar year without gift tax consequence. For example, in 2019, if husband and wife have two children, they each can give $15,000 to each child, total of $60,000. Upon their deaths, they could still leave $22.8 million – $11.4 per person – to their children without any federal estate tax. (State estate tax may differ.) If gifts exceed the annual exclusion, the transfer would erode the $22.8 million exemption they can pass tax-free upon their deaths. There generally is no tax reporting regarding the annual exclusion, however, there are exceptions depending on the type of gift and the recipient. If the law changes and the $22.8 million exemption is reduced by changes in the law, annual exclusion gifts will become even more important.
Coming up in December, John Dedon will be recognized in two prominent local publications. Washingtonian Magazine again names John as a 2023 Top Lawyer in the Trust and Estates category. Washingtonian Magazine chooses Top Lawyers by surveying local lawyers asking them whom they would trust if they needed legal counsel themselves. Northern Virginia Magazine also… Read »
In the March 2022 publication, John Dedon was again chosen by his peers and Washingtonian Magazine as one of the “Top Financial Advisors,” in the Estate Attorney section, for Virginia, Maryland and the District. John has been selected consistently for over a decade, and is routinely named as well for Washingtonian’s “Top Lawyers.”
In the December 2020 issue, John Dedon is again recognized by Washingtonian Magazine as a Top Trusts and Estates Attorney. Washingtonian Magazine chooses Best Lawyers by surveying nearly 1,000 attorneys recognized on a prior year’s list, asking whom they consider best among their peers. Coming up in the January 2021 issue, John will also again… Read »
I was recently interviewed regarding fundamental estate planning needs and the appropriate tools to accomplish your objectives. Below is the link to the interview: https://www.youtube.com/watch?v=pPP6wiPj6H0
Last month, John Dedon received two important and continuing recognitions as a Top Attorney in the financial planning and estate planning areas of law. Northern Virginia Magazine named John a Top Lawyer in the financial area of law. Top Lawyers by Northern Virginia Magazine is an annual peer-reviewed list based on surveys of other lawyers’… Read »
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About Revocable Trusts
John P. Dedon
John P. Dedon is a tax lawyer with a talent for explaining the complexities of tax law in lay terms. Working in the estate planning, asset protection and business areas for more than 35 years, John helps clients preserve assets and plan for the future with traditional planning tools, including Trusts (dynasty trusts, intentionally defective trusts, grantor retained annuity trusts), LLC and partnership entities, and cutting-edge concepts such as cryonic preservation trusts.
Fellow of the American College of Trust and Estate Counsel (ACTEC)
Martindale-Hubbell AV Rating/Top Rated Estate and Taxation Lawyer
Consecutive years named Washingtonian Best Lawyers; Best Lawyers in America® for Trusts and Estates; Washingtonian Magazine’s Top Wealth/Financial Advisor; Top Lawyer and Top Financial Professional by Northern Virginia Magazine.